The morning news. [volume] (Savannah, Ga.) 1887-1900, 1887-04-26
BONBARDING A BUDGET.
GLADSTONE AND CHURCHILL TURN
THEIR GUNS ON GOSCHEN.


The Ex-Prenier Characterizes the
Main Proposals Of the Bill as at Vari-
arce with Sound Financial Principles
The Proposed Reduction Of the In
come Tax at the Expense of the Sink
ing Fund Declared Unwise.
LONDON, April 25.-In the House of Com
mons to-day, in the Committee on the
Budget. Mr.. Gladstone contended that the
main proposals of the budget were at
variance with sound financial principles.
Instead of being the humdrum budget which
Mr. Goschen promised, it was one to be re-
rembered in the future for good or for evil.
If there was anything good in it the Union
lists would have the credit, and upon them
would rest the objections. Among the pro-
posals was one to change the stamp duties,
which would facilitate business upon local
loans He would, in the meantime, give no
mfavorable opinion. Regarding the tobacco
duties it was easier to reduce duty than to
oct rid of it, The manufacturer of tobacco
would certainly be benefited, but the re-
duction would never reach the consumer.
THE INCOME TAX.
Regarding the income tax, the reduction
nf Id. per pound would be a peculiar boom
All the same time the proposal was against
sound financial principles, because such a
reduction should arise from a rigid system
of public economy, and not at the expense
of the sinking fund Serious reflection could
not warrant proceeding so opposed to the
traditions of the British nation. 1t was the
first time that proposal of this nature had
been made and it was made when the
country was becoming richer than ever.
He believed that the country was adding
about 600, 100000 yearly to its savings, yet
they were asked to shrink from the very
moderate effort that had hitherto been made
to provide a sinking fund in pursuance of
the wise policy that was supported by all
financial authority He hoped Mr. Goschen
would not reply at once, but give the House
q chance Of hearing his impartial judgment
in the matter.
GOSCHEN AGREES TO WAIT.
Mr. Goschen said he would reply later if
Mr. Gladstone were present.
Lord Randolph Churchill praised the
"weighty remark of Mr. Gladstone.
Speaking as true friend of the govern
ment he must condemn the policy of making
grants of local taxes. Did Mr. Goschen
think that these grants were compatible
with national economy. Regarding the ap-
preparation Of the sinking fund he could add
nothing to what had been said by Mr.
Gladstone, in whose general criticism
of the budget he fully concurred He de
clared that the GoSchen budget had quashed
all his hopes of public economy. A Judi
cious budget would have reduced the mill
tary expenditures without impairing the
efficiency of the army. He trusted that
MI. GOschen would assent to reconsideration
of his proposals, amending them on wiser
finance.
GosCHEN AROUSED.
Mr.. Goschea said that the onslaughts made
by Mr.. Gladstone and Lord Churchill re-
CURED a prompt reply. First as to local
loans he promised to consider the objec-
tlons. With reference to the tobacco duties
he defended the reduction of the duty on the
ground that the increase had not answered
expectations. Hewas confident that in few
years the loss arising from the current
year reduction would be recovered Mr.
Gladstone had attacked the proposals to re-
uuce the income ta1A and to suspend u pol-
tiol ol the sinking fund as against rccog-
Ll"1 principles OF finance. He could see 10
I0rce III tins charge. In taking a penny off
ol the income tax the government would
pehept class upon WHOM there was much
peruniory pressure.
Mr Cremeu asked Mr.. Goschen if he
NJ" that the reduction of the duty on
tobacco would throw out of employment
several thousand men in London.
Nf GoSchen replied that be had arranged
70 confer on that subject with delegates
4,;,I nT Jqhn Lubbock, Liberal Unionist, and
,GsIt hoa Hugh ChildelS, Liberal criticized
eIad eso douiset on the ground taken by Mr..
th3'N,ohe. After further discussion the
oulSet resolutions were agreed to.
THE PROBABLE REscLT.
sono,L rO 70 generally thought that Mr.. Glad
iauSe i che government TO modify its local
" "dn proposals, and probably its proposals
gsiaIlVe to tobacco but it is believed that
@ ule nam feature Of the sinking fund and in
L,lile taxes will be aaintained Many mem
SaG,. rrS VINO have been absent during tho past
week have returned 9 WV F'''''
COERCION NOTIFICATIONS.